$VELVET /USDT — LONG SETUP
VELVET just recorded a $4.8029K long liquidation at $0.05577, making this a significant downside liquidity event. Rather than chasing immediately, watch for a reclaim of the liquidation zone. If buyers absorb the sell pressure and price recovers above $0.0565, a relief bounce could develop.
Liquidation: $4.8029K @ $0.05577
Support: $0.0540–$0.0558
Resistance: $0.0580–$0.0610
Entry: $0.0560–$0.0570
Next Target: $0.0585 → $0.0610
SL: $0.0530
Trigger: Reclaim $0.0565 with momentum.
Invalidation: Sustained break below $0.0530.
NFA • DYOR
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